(Oslo, July 12, 2017) On July 11, 2017, Nel ASA (the "Company") resolved to issue 1 879 277 new shares to employees to fulfil the Company's obligations under the Company's new share option program, thereby increasing the Company's share capital to NOK 375 855.40 with effect from registration of the shares.
The following employees who are primary insiders of Nel ASA (the "Company") subscribed for new shares under the new share option program:
| Name | Number of subscribed shares | Exercise price per share*) | Holding after the subscription |
| Jon André Løkke | 109 217 | NOK 2.289 | 757 159 |
| Bent Skisaker | 109 217 | NOK 2.289 | 530 159 |
| Anders Søreng | 109 217 | NOK 2.289 | 530 159 |
| Bjørn Simonsen | 109 217 | NOK 2.289 | 2 235 928 |
| Mikael Sloth | 109 217 | NOK 2.289 | 109 217**) |
| Lars Markus Solheim | 109 217 | NOK 2.289 | 16 030 159 |
| Jacob Krogsgaard | 109 217 | NOK 2.289 | 109 217**) |
| Jørn Rosenlund | 109 174 | NOK 2.289 | 557 003 |
| Audun Dale | 65 530 | NOK 2.289 | 244 431 |
| Martin Pedersen | 65 530 | NOK 2.289 | 383 597 |
*) Subscription/exercise price is set to the average of the 10 latest trading days before subscription, which is in accordance with the Company’s share option program.
**) In addition, Jacob Krogsgaard and Mikael Sloth controls 25% each of H2 Holding ApS, which owns 127 405 781 shares in Nel ASA.
Certain of the primary insiders have on the same date sold shares to finance the above subscription and to cover the tax levied on the matching share received in June under the Company's existing share option program (in whole or in part):
| Name | Number of sale shares | Average sales price per share | Holding after the transaction |
| Bent Skisaker | 100 000 | NOK 2.540 | 430 159 |
| Anders Søreng | 100 000 | NOK 2.540 | 430 159 |
| Bjørn Simonsen | 200 000 | NOK 2.538 | 2 035 928 |
| Jørn Rosenlund | 223 829 | NOK 2.536 | 333 174 |
| Audun Dale | 93 901 | NOK 2.550 | 150 530 |
| Martin Pedersen | 150 000 | NOK 2.580 | 233 597 |
On the same date, Nel ASA transferred treasury shares for no consideration to an employee (who is not primary insider) of Nel, in order to fulfil obligations of Nel under the employee's employment agreement. After the transfer, Nel ASA holds 252,707 treasury shares in the Company.
